Incorporated in 1985, Ajmera Realty and Infra Limited (ARIIL) is in the business of providing residential and rented commercial properties. The company has a presence in the cities like Mumbai, Bengaluru, Ahmedabad in India as well as in foreign countries such as Bahrain and UK[1]
Business Profile[1]Ajmera Realty is a real estate developer and builder specializing in township development with a presence in MMR & Bangalore.It has delivered 46,000+ homesand is currently developing 1.3 MSF, with 1.7 MSF in the pipeline and an 11.1 MSF land bank for future projects.
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | DLF | 649.85 | 41.74 | 161117.98 | 0.92 | 1180.09 | -27.08 | 1643.04 | -16.81 | 6.51 | 9016.03 | 22.47 | 3859.74 | 1007.10 | 3.74 | 7.30 | 0.04 |
| 2. | Lodha Developers | 1070.90 | 32.13 | 106979.56 | 0.40 | 789.80 | 86.50 | 3798.50 | 44.67 | 15.62 | 15597.50 | 29.61 | 3329.50 | 788.70 | 5.03 | 5.70 | 0.45 |
| 3. | Phoenix Mills | 1859.00 | 62.17 | 66509.56 | 0.13 | 384.09 | 39.38 | 1115.43 | 21.51 | 10.75 | 4059.89 | 57.73 | 1069.86 | 303.99 | 6.16 | 6.11 | 0.46 |
| 4. | Prestige Estates | 1523.20 | 85.84 | 65711.76 | 0.12 | 457.40 | 123.88 | 2431.70 | 5.52 | 7.66 | 7921.90 | 36.60 | 765.50 | 430.30 | 4.15 | 1.15 | 0.92 |
| 5. | Oberoi Realty | 1664.50 | 27.12 | 60560.17 | 0.48 | 760.26 | 28.98 | 1779.04 | 34.79 | 17.73 | 5327.81 | 56.59 | 2233.06 | 760.26 | 3.62 | 10.23 | 0.18 |
| 6. | Godrej Propert. | 1889.00 | 36.71 | 56890.28 | 0.00 | 402.99 | 20.84 | 740.38 | -32.28 | 6.57 | 4265.55 | -18.34 | 1549.83 | 405.08 | 3.11 | 2.67 | 0.89 |
| 7. | Brigade Enterpr. | 837.30 | 25.73 | 20468.19 | 0.30 | 170.28 | 36.58 | 1383.37 | 29.03 | 13.34 | 5588.84 | 26.50 | 795.44 | 162.50 | 3.16 | 3.39 | 0.83 |
| 8. | Ajmera Realty | 182.75 | 29.75 | 3580.96 | 0.49 | 26.19 | -5.07 | 122.05 | -4.27 | 13.30 | 549.85 | 38.23 | 120.38 | 26.19 | 3.16 | 6.67 | 0.43 |
| – | Median: 94 Co. | 171.52 | 33.22 | 829.63 | 0.0 | 4.6 | 5.58 | 47.48 | 9.84 | 7.71 | 174.32 | 16.52 | 11.74 | 3.85 | 2.81 | 2.39 | 0.43 |
Standalone figures in ₹ crores
| Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 150 | 61 | 97 | 99 | 110 | 115 | 165 | 140 | 127 | 147 | 118 | 163 | 122 |
Expenses | 101 | 44 | 71 | 66 | 75 | 74 | 112 | 90 | 80 | 91 | 74 | 98 | 76 |
Operating Profit | 49 | 17 | 26 | 32 | 35 | 41 | 53 | 50 | 48 | 56 | 44 | 64 | 46 |
Other Income | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 3 | 5 | 2 | 0 | 1 |
Profit before tax | 45 | 13 | 21 | 26 | 29 | 28 | 31 | 31 | 36 | 41 | 37 | 48 | 36 |
Tax % | 25% | 25% | 25% | 25% | 25% | 25% | 25% | 25% | 24% | 23% | 23% | 31% | 27% |
Net Profit | 34 | 10 | 16 | 20 | 21 | 21 | 23 | 24 | 28 | 32 | 29 | 34 | 26 |
EPS in Rs | 1.92 | 0.56 | 0.88 | 1.12 | 1.21 | 1.19 | 1.30 | 1.32 | 1.52 | 1.62 | 1.45 | 1.71 | 1.33 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 0 | 136 | 213 | 252 | 289 | 343 | 323 | 289 | 405 | 361 | 489 | 533 | 550 |
Expenses | 0 | 98 | 150 | 152 | 165 | 225 | 221 | 207 | 305 | 250 | 327 | 334 | 340 |
Operating Profit | 0 | 39 | 64 | 100 | 124 | 118 | 101 | 81 | 100 | 111 | 162 | 199 | 210 |
Other Income | 8 | 7 | 9 | 14 | 13 | 14 | 3 | 3 | 4 | 5 | 4 | 11 | 8 |
Interest | 0 | 17 | 29 | 35 | 41 | 48 | 65 | 51 | 49 | 20 | 51 | 62 | 54 |
Depreciation | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 1 | 1 | 1 | 1 | 2 | 2 |
Profit before tax | 7 | 26 | 42 | 77 | 94 | 83 | 38 | 32 | 54 | 95 | 114 | 146 | 162 |
Net Profit | 6 | 22 | 34 | 61 | 76 | 66 | 28 | 24 | 40 | 71 | 85 | 112 | 120 |
EPS in Rs | 0.35 | 1.25 | 1.91 | 3.46 | 4.26 | 3.73 | 1.59 | 1.33 | 2.28 | 4.00 | 4.81 | 5.67 | 6.11 |
Dividend Payout % | 87% | 27% | 26% | 17% | 15% | 18% | 18% | 21% | 20% | 15% | 17% | 16% | – |
Standalone figures in ₹ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 35 | 35 | 35 | 35 | 35 | 35 | 35 | 35 | 35 | 35 | 35 | 39 | 39 |
Reserves | 313 | 329 | 354 | 405 | 469 | 523 | 546 | 565 | 606 | 669 | 743 | 1,057 | 1,100 |
Borrowings | 189 | 215 | 240 | 386 | 470 | 740 | 831 | 641 | 754 | 710 | 714 | 504 | 485 |
Other Liabilities | 255 | 333 | 345 | 328 | 348 | 270 | 157 | 234 | 171 | 132 | 87 | 126 | 175 |
Total Liabilities | 791 | 912 | 974 | 1,154 | 1,323 | 1,568 | 1,570 | 1,475 | 1,565 | 1,547 | 1,580 | 1,727 | 1,799 |
Fixed Assets | 12 | 12 | 10 | 9 | 8 | 10 | 8 | 7 | 6 | 7 | 7 | 8 | 9 |
Gross Block | 16.26 | 18.44 | 18.95 | 18.01 | 19.29 | 22.75 | 22.55 | 22.58 | 21.75 | 23.83 | 24.16 | 23.61 | – |
Accumulated Depreciation | 4.13 | 6.46 | 8.51 | 9.46 | 11.03 | 12.93 | 14.19 | 15.67 | 16.01 | 17.22 | 17.63 | 15.72 | – |
CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Investments | 92 | 92 | 92 | 98 | 117 | 134 | 134 | 134 | 113 | 113 | 112 | 161 | 137 |
Other Assets | 687 | 808 | 872 | 1,047 | 1,197 | 1,424 | 1,427 | 1,334 | 1,447 | 1,428 | 1,461 | 1,558 | 1,653 |
Total Assets | 791 | 912 | 974 | 1,154 | 1,323 | 1,568 | 1,570 | 1,475 | 1,565 | 1,547 | 1,580 | 1,727 | 1,799 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | -33 | -15 | 141 | 43 | -129 | -260 | 8 | 150 | -79 | 52 | 99 | 176 |
Cash from Investing Activity | 3 | 3 | 5 | 0 | 5 | -15 | -0 | 16 | 2 | 11 | -26 | -70 |
Cash from Financing Activity | 29 | 3 | -145 | -42 | 123 | 283 | -14 | -165 | 86 | -71 | -57 | -93 |
Net Cash Flow | -1 | -9 | 1 | 1 | -1 | 8 | -6 | 1 | 8 | -7 | 16 | 14 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 4,270 | 41 | 59 | 177 | 217 | 179 | 190 | 161 | 124 | 136 | 135 | 186 |
Inventory Days | – | – | – | – | – | – | – | – | – | – | – | 5,565 |
Days Payable | – | – | – | – | – | – | – | – | – | – | – | 327 |
Cash Conversion Cycle | 4,270 | 41 | 59 | 177 | 217 | 179 | 190 | 161 | 124 | 136 | 135 | 5,424 |
Working Capital Days | 439,630 | 1,122 | 572 | 471 | 626 | 731 | 728 | 778 | 633 | 713 | 572 | 494 |
ROCE % | 1% | 8% | 12% | 15% | 15% | 11% | 8% | 6% | 8% | 8% | 11% | 13% |
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Stock Analysis
Ajmera Realty & Infra India Limited (ARIIL) is a diversified real estate developer with a pan-India presence, specializing in premium residential projects and aiming for sustained growth through strategic project execution.
Strong operational performance in Q3 FY26 and 9M FY26 driven by successful project launches like Ajmera Solis, leading to an expectation of outperforming annual sales guidance.
9M FY26 Sales Value: ₹1,431 Cr (up 72% YoY). Company confident of outperforming annual guidance of ₹1,600 Cr.
No specific red flags were mentioned in this operational performance update.
Currently no data available for Key Dates To Watch.
Corporate Announcements
